Get the protection you need for your apartment or condo.
Condo insurance to protect the lifestyle you earned.
The master condo policy typically protects only the shell of your unit, leaving your personal property and the unit interior at risk. We’ll make sure you understand your bylaws and have the protection you need.
Your condo association’s insurance policy only covers certain aspects of your condo building, such as common or shared areas. As a result, it may cover your condo unit, but not any improvements you make or fixtures you add to the condo. It also won’t cover your personal possessions or provide personal liability lawsuit protection.
Renters insurance protects your family and you against unexpected
expenses in the event of a loss. Your landlord’s insurance does not
provide you relief in case of a fire or weather catastrophe.
Which insurance solution is right for your family?
Explore how having the right insurance can protect you from the unexpected.
Improvements and Alterations
Any improvements, alterations, or additions made to your condominium are subject to damage.
Be sure to obtain coverage for any improvements and alterations made to the unit. This includes, but is not limited to, kitchen cabinets, built-in wall units, wall-to-wall carpeting, wallpaper, paint, bathroom fixtures, tile and wood flooring, and more.
Unpredictable losses can occur to your property due to burglary, fire, water damage, storm, and more.
Personal property, such as furniture, rugs, TVs, stereos, clothes, and more may be covered under your basic insurance policy. However, items like jewelry, furs, silverware, antiques, collectibles, and other valuables should likely be insured separately.
Additional Living Expenses
Additional living expenses can be incurred if there is damage to your unit due to a fire, storm, or other event resulting in your need to live at a temporary residence.
Ensure you have the proper coverage in case you need to live elsewhere for a little while. Coverage usually includes hotel bills, restaurant meals, and other living expenses incurred while your residence is being repaired or rebuilt.
Personal and Family Liability
You're responsible if a guest in your unit trips and falls or sustains an injury while on your property or if you cause damage to other units.
Be sure that you have coverage for claims made against you for bodily injury or property damage caused by your negligence, whether intentional or not. This might include damage to other units in the building, perhaps caused by a leaking pipe in your unit or otherwise.
You're responsible if a guest is injured while on your property and you may be required to pay their medical expenses.
Ensure your insurance policy covers this risk. In the event a person is injured in your unit, he or she can submit medical bills to your insurance company. Medical expenses are usually paid without a liability claim being filed against you, with typical limits ranging from $1,000 to $5,000.
If your building owner or association suffers a loss and doesn't have adequate insurance coverage of their own, they may require you to help pay for the loss via an assessment.
Consider loss assessment coverage to protect yourself in the event of an assessment caused either by a property (building) or liability loss. Typical limits range from $5,000 to $50,000.
Physical damage can happen in many ways. As one example, suppose a fire unexpectedly breaks out in the utility closet and consumes the building causing significant damage.
Ensure that your building owner or association carries an all-risk special form to cover the risk of physical damage. Explosion of boilers are typically excluded, so a separate policy must be written to cover that exposure.
Renters insurance protects your belongings and provides the additional cost to relocate if you have to live elsewhere due to a loss to your unit. It also provides your family and you liability lawsuit protection if you are sued for injuries at your home, or elsewhere. Libel & slander lawsuits should also be covered for internet and social media activity—the fastest rising number of lawsuits today.
Note: If you are a landlord, you must protect yourself by requiring renters insurance of your tenants and need properly written Rental Dwelling protection including sufficient landlord liability limits. HIC has special programs for your renters and for your needs as well.
Condo insurance covers damage caused by theft, fire, severe wind, lightning strikes and frozen pipes. It’s important to note, however, that condo insurance does not usually cover flooding.
It can be confusing to figure out exactly what coverage you need for your condo unit, so we’re more than happy to work with you to find the condo insurance policy that’s right for you.
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